|Bid||163.07 x 900|
|Ask||163.19 x 1100|
|Day's Range||161.69 - 164.14|
|52 Week Range||137.78 - 199.32|
|Beta (5Y Monthly)||1.73|
|PE Ratio (TTM)||600.59|
|Earnings Date||Mar 16, 2020|
|Forward Dividend & Yield||2.60 (1.58%)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||172.52|
Some of the industry's largest pharmaceutical companies, including Pfizer Inc and Eli Lilly and Co, have developed a blockchain-based system to track prescription drugs across the supply chain to better halt the flow of counterfeit medicines, company officials said on Friday. Some two dozen companies in the industry including drugmakers, distributers, retailers and delivery firms created the blockchain-based MediLedger Network, which it has been testing in the verification of drug returns. Blockchain, which first emerged as the technology underlying virtual currency bitcoin, is a shared database maintained by a network of computers.
Shipping solution provider Stamp.com stock is rocketing higher, up more than 30%, in premarket trading. The reasons? It’s all about the e-commercer, the Amazon effect and the USPS.
(Bloomberg) -- The discovery of an alleged international ring of fraudsters started with a one-line email. In April 2019, a company accountant received an email that appeared to be from the chief executive officer.“Joanna, Can you mail out a check to to a Vendor today? Barbara,” the email said.The email had some hallmarks of a scam that is becoming increasingly common. But it also had a few unique attributes that intrigued cybersecurity experts at the company’s email security provider, Agari Data Inc. Using a fake email account posing as the company accountant, Agari sent back a reply.“Hi Barbara, Yes, of course. Please send me the details for the payment and I will take care of it ASAP. Joanna,” the reply said.Over the next several months, Agari said it was able to unravel what’s known as a business email compromise operation. Agari dubbed the group sending the emails Exaggerated Lion, and said its members were based in Nigeria, Ghana and Kenya. Between April and August 2019, Exaggerated Lion targeted more than 3,000 people at nearly 2,100 companies, all of them in the U.S., according to an Agari report published Thursday.Similar email attacks are growing problem in the U.S., according to the latest Federal Bureau of Investigation report, but one that doesn’t get the headlines of state-sponsored hacks or ransomware attacks. Global losses from business email compromises increased 100% from May 2018 to July 2019, according to the FBI, which recorded 166,349 incidents from June 2016 to July 2019 and $26.2 billion in losses during that period.In one of its simplest forms, a business email compromise operator will send an email posing as the chief executive officer to an accounts payable department with an urgent request to transfer funds or fulfill a fake invoice. In another example, payroll representatives will receive an email appearing to be from an employee requesting to update their direct deposit information -- often to a prepaid card account. Companies often realize something is amiss only when it’s too late to recover the transferred funds.“We think of business email compromise as any attack which claims to be someone you know and trust and is attempting some kind of theft,” said Patrick Peterson, Agari’s founder and chief executive officer, in an online video. “This has been far too successful.”Leveraging its position as an email security provider, Agari can sometimes see email scams that target its customers as they happen. In some cases, the company intervenes to communicate with the fraudster, posing as a clueless employee in order to draw out more details. That’s what happened with Exaggerated Lion, when the operation sent the email to the company, which Agari declined to name, last April.In the months that followed, Agari said it engaged with Exaggerated Lion more than 200 times, and discovered the identity of 28 “mules” used to ferry payments between victims and the group itself. Mules are primarily recruited by Exaggerated Lion under the pretense of romance and likely unaware they are participating in a criminal enterprise, the company said. “These romance-victims-turned-money-mules are told they are helping their romantic partner recover a large inheritance that is tied up with lawyers and is being distributed slowly over time,” according to Agari.In one exchange with a mule included in Agari’s report, a member of Exaggerated Lion wrote, “Okay honey please put the cash in big envelope and seal it before taking to FedEx.”The unnamed mule responded, “Honey, that’s a lot of money to send cash that’s a heck of a liability it could be lost anywhere.”Exaggerated Lion’s representative then wrote, “It can’t honey. As long as you insure it. And I’ve received more than that through cash mailing when my dad was still alive.”Agari declined to say how it obtained the digital conversations.As the fake relationship progresses, mules are asked to launder increasingly larger sums of money, according to Agari. Once an unsuspecting business parts with its cash, through a paper check or wire transfer, Exaggerated Lion’s mules have a variety of ways to get the money back to them. Once a physical check is cashed, the money can be delivered to Exaggerated Lion via traditional money transfer, Bitcoin, or gift cards, according to Agari.Agari said it turned its information on the mules over to financial partners and law enforcement.Exaggerated Lion began operating in 2014 by running check scams on Craigslist and has since become more sophisticated, according to the report. One scam the group allegedly operated for years involved recruiting people to wrap their car with marketing decals for a beverage company in exchange for a fixed amount of money every week.Participants, who responded to an online ad or email, would be sent a fake check, which included the first month’s pay and money for a specialist to place advertisements on the car. Respondents were then instructed to keep the first month’s pay and wire the money to the “specialist,” who was really a money mule or a member of Exaggerated Lion, according to Agari.What makes Exaggerated Lion unique in the world of business email compromise is its preference for physical checks, a payment method the group had “experience and comfort with,” according to Agari. Paper checks may be helpful in evading systems designed to detect fraudulent wire transfers. Exaggerated Lion requests these checks to be sent as fast as possible, through an overnight mail service, according to exchanges contained in the Agari report. But when a victim is hesitant about sending a check, Exaggerated Lion is quick to suggest a bank account to wire money to, according to the report.Exaggerated Lion also used fake invoices, created using a free invoice generator, and W-9s, publicly available on the Internal Revenue Service website, “to inject a sense of authenticity in their attacks,” according to Agari. The group also used Google’s enterprise email service to send more emails, the security company said. “Google doesn’t start charging for G Suite until after the first month,” Agari said in its report. “This means Exaggerated Lion can create a new G Suite account, add compromised credit card information as a payment method, and effectively have at least a 30-day free trial on each domain they set up.”If the credit card doesn’t work, the group “can simply move on to another account,” Agari wrote. With a Google Enterprise account, Exaggerated Lion can send 2,000 emails a day, four times more than a regular gmail account. Google declined to comment.Among the mules identified by Agari was 63-year-old Reuben Alvarez Sr., of Beaumont, Texas, who was arrested in October 2019 and accused of laundering more than $100,000, nearly $70,000 of which came from the United Methodist Church, according to a probable cause affidavit from the Jefferson County Sheriff’s Office. The rest came from small-to-medium-sized businesses, such as an insurance company in Ohio and golf courses in Alabama, who were all victims of a business email compromise scam, according to the affidavit. Agari said its researchers discovered 14 messages where Exaggerated Lion directed its targets to send money to Alvarez’s bank accounts.Alvarez’s case is pending and he hasn’t yet entered a plea, according to the district attorney’s office. Neither Alvarez nor his attorney could be located for comment.In an interview with a detective, Alvarez said the money he received came from a woman he believed to be named “Peggy Smith,” who lived in Washington State. Alvarez said he knew Smith from chatting online for three or four years but had never met her in person. Alvarez told the detective that he assumed the money came as part of Smith’s inheritance payments after her parents died. But Alvarez said he knew his activities constituted a crime, according to the affidavit. When the detective drove Alvarez home, he handed over a package he had received the day before: it contained a $25,647 check from a Tennessee health care company.To contact the reporter on this story: William Turton in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Andrew Martin at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Chinese manufacturing engine that powers much of the world economy is struggling to restart after an extended Lunar New Year break, hindered by travel and quarantine restrictions imposed to curb the coronavirus epidemic and still in place in many parts of the country. Case in point: in the southern China manufacturing hub of Dongguan, a factory that makes vaporizers and other products had just half of its workforce of 40 last week and was struggling to function without key personnel.
When Forsyth Technical Community College opens the Mazie S. Woodruff Aviation Technology Lab at Smith-Reynolds Airport this fall, a native of central North Carolina will be a the helm of the school’s new aviation program. This week, Greg Purvis, who was born and raised in the Chatham County town of Bennett, started his new position as aviation program coordinator. The program will launch this fall at the new 53,000-square-foot, $16 million facility under construction at the airport.
Hedge funds are concerned about FedEx Corporation’s (NYSE: FDX ) fiscal third-quarter earnings significantly missing consensus estimates when the company reports results on March 17, according to UBS. ...
Finalists for the 2020 Building Memphis awards, Renovation-Medium category: Arrive Hotel, FedEx, Le Bonheur/UTHSC, and the Melrose Midtown.
(Bloomberg) -- Amazon.com Inc. is severing ties with small delivery firms around the country -- putting at least 1,300 drivers out of work -- in an effort to eliminate partners that aren’t meeting its standards.Bear Down Logistics, an Illinois company that rapidly expanded over the past two years, is shuttering operations in five states and letting go of about 400 drivers. Delivery Force, an Amazon delivery partner in Washington state, is cutting 272 drivers in Seattle and other cities. Kansas-based RCX Logistics, an Amazon delivery partner with operations in Texas, Alabama and Florida, will eliminate the jobs of more than 600 employees after losing its Amazon contract. Around the country, logistics firms are notifying state officials about facility closures and job cuts, signs that Amazon is culling the herd.The action underscores the challenges of outsourcing deliveries to new, untested companies instead of traditional partners such as United Parcel Service Inc. and FedEx Corp. It also serves as a warning to Amazon delivery partners that the company is an exacting client willing to cut them off.Bear Down Logistics notified Ohio, Virginia, Minnesota and Illinois that it would close facilities in those states in April, resulting in the loss of almost 280 jobs. Another Bear Down facility near Grand Rapids, Michigan, will also close in April, according to documents reviewed by Bloomberg. About 120 drivers work at the Michigan facility, said a person familiar with the matter who spoke on condition of anonymity due to company policies about speaking with the media. The company also has Amazon delivery operations in Wisconsin, the status of which was not immediately clear.“We have a responsibility to our customers and the communities where we operate to ensure these partners meet our high standards for things like safety and working conditions,” an Amazon spokeswoman said in an email. “Occasionally we need to end a relationship with a partner and when this happens we are committed to helping the impacted employees find opportunities with other delivery service partners or to learn more about the thousands of available roles at Amazon delivery stations and fulfillment centers.”Bear Down Logistics, Delivery Force and RCX Logistics didn’t immediately respond to requests for comment.Amazon in 2018 launched a program encouraging aspiring entrepreneurs to lease vans, hire drivers and build their own businesses delivering packages to its customers. More than 800 such businesses have sprouted around the country with 75,000 drivers, helping Amazon increase delivery capacity. Amazon also has greater negotiating leverage over each small operator than it does with larger delivery partners like UPS, FedEx and the U.S. Postal Service.Drivers working for Amazon delivery partners typically earn less than their counterparts working at larger delivery companies like UPS, which helps Amazon lower costs. One driver working for Bear Down Logistics in Michigan said he earned about $15 an hour delivering Amazon packages, while UPS paid seasonal drivers doing the same work in that area about $20 an hour.A big challenge for Amazon is balancing safety with its efforts to deliver things quickly at the lowest possible cost. ProPublica in December revealed internal Amazon documents showing it prioritized speed over safety in its delivery network, which followed other investigations exposing the injuries and deaths that accompanied Amazon’s quick expansion of its delivery program.The Bear Down experience also shows how hard it is to make a go of such businesses. When Amazon courted entrepreneurs, it touted the prospects of earning $300,000 a year with as little as $10,000 in up front costs, significantly less than most franchise businesses that can cost more than $100,000 to launch.(Updated with job cuts in Florida, Texas and Alabama in the second paragraph.)To contact the reporters on this story: Spencer Soper in Seattle at firstname.lastname@example.org;Matt Day in Seattle at email@example.comTo contact the editors responsible for this story: Robin Ajello at firstname.lastname@example.org, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of FedEx Corporation's EETCs and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Densely populated metropolitan areas like New York City have become ground zero for clashes among cars, bikes and trucks competing for limited parking spaces. Commercial parking fines incurred in New York City in 2019 totaled about $123 million, meaning the two delivery giants were responsible for about one quarter of the city's commercial parking fines last year.
The Board of Directors of FedEx Corp. (NYSE: FDX) today declared a quarterly cash dividend of $0.65 per share on FedEx Corp. common stock. The dividend is payable April 1, 2020 to stockholders of record at the close of business on March 9, 2020.
The head of an American business lobbying group said on Thursday he was confident that China will still meet its "Phase 1" trade deal commitments to massively increase purchases of U.S. goods and services despite the coronavirus crisis. Craig Allen, president of the U.S.-China Business Council (USCBC) said that the business slowdown in China could affect the timing of purchases, but both governments were committed to meeting the targets. The group represents U.S. companies doing business in and with China.
A Delaware company has acquired a 31.5-acre property next to the airport on which it's building a $9.2 million delivery and distribution facility with parking for 952 delivery vans.
Just when you thought 2019 was over, some of the year’s most popular phrases have been added to Dictionary.com’s slang dictionary. The digital dictionary updated its archives on Wednesday to include 20 new slang terms from the past year or two, including “OK, boomer,” “Megxit” and Baby Yoda. John Kelly, the senior research editor at Dictionary.com, told MarketWatch that the buzzworthy words and phrases were selected by analyzing the site’s search data, monitoring trends on social media, as well as tracking themes seen within pop culture at large.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all hit new 52-week highs on Tuesday. That said, let's look at a few top stock trades as the gains keep on coming. Top Stock Trades for Tomorrow No. 1: Amazon (AMZN) Click to Enlarge Source: Chart courtesy of StockCharts.comAmazon (NASDAQ:AMZN) stock continues to climb higher, now putting together three consecutive weeks in the green (provided it closes higher this week).The stock is now breaking out cleanly over $2,000, and has hurdled the $2,025 level as well. It's vital for AMZN stock to hold above this zone now, as it will keep bulls in control following this big-time breakout that's been in the making for quite some time.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 U.S. Stocks to Buy on Coronavirus Weakness On the upside, see if Amazon can pierce $2,200, with the 1.382% extension of the one-year range up at $2,207. On a pullback, I'd like to see $2,025 to $2,050 act as support -- along with the 10-week moving average if it can catch up and clear this level too. Top Stock Trades for Tomorrow No. 2: Under Armour (UAA, UA) Click to Enlarge Source: Chart courtesy of StockCharts.comUnder Armour (NYSE:UAA, NYSE:UA) is getting crushed on Tuesday, down roughly 20% after disappointing quarterly results.Shares are now plowing through any sort of nearby support, as it gaps below the 50-day and 100-day moving averages, as well as $20 support. Now, bulls must do their best to reclaim and hold the $17 mark. Below keeps the December 2018 low on the table, near $16.50. However, the stock did reach that point earlier on Tuesday -- setting a new 52-week low.Nonetheless, any further below that, and the technicals will be quite damaged. Top Stock Trades for Tomorrow No. 3: Facebook (FB) Click to Enlarge Source: Chart courtesy of StockCharts.comFacebook (NASDAQ:FB) stock continues to waver, as the recent trading range continues to tighten.Let's keep it simple, but nimble. On a move over $213, Facebook stock may have some short-term momentum. In that case, look to see how it handles the $218 to $220 zone. Above it puts $222.50-plus, and the 52-week high on the table. * 3 Great Emerging Markets Stocks for International Diversification On the downside, though, a move below the 20-week moving average and $202.50 puts the $190 to $195 level on watch -- with the 50-week moving average coming into play near the former. Top Stock Trades for Tomorrow No. 4: FedEx (FDX) Click to Enlarge Source: Chart courtesy of StockCharts.comOver the last two weeks, FedEx (NYSE:FDX) stock gave investors a "look below" and reverse. Meaning that it broke below support, but then reclaimed it in the next candle. Now squeezing higher, FDX may have trapped some short sellers who were looking for more downside.For more upside, though, we need to see FDX reclaim the declining 50-week moving average and downtrend resistance (blue line). Over downtrend resistance, and a move to $175-plus is possible.If resistance holds, however, look for another test of support down near $148 to $150. Below that puts the recent low of $143 on the table, along with the fourth-quarter low of $137. Top Stock Trades for Tomorrow No. 5: Hasbro (HAS) Click to Enlarge Source: Chart courtesy of StockCharts.comHasbro (NASDAQ:HAS) opened significantly higher, but has all but given up its post-earnings gains on Tuesday.It's been a tough session for bulls to swallow. At the open, HAS stock had gapped above and reclaimed the 50-day, 100-day and 200-day moving averages -- as well as notable resistance at $105.However, the stock was unable to hold those gains -- even for a few hours -- as HAS stock is now back below all of these marks.For now, I wouldn't be a buyer of Hasbro stock unless it's able to reclaim $105 and its major moving averages. If it can, it puts the post-earnings high near $110 on the table. Above that, and HAS can continue to fill the gap up toward $117.50.On a dip, however, see if uptrend support (blue line) buoys the stock. Below that puts the $93 mark on the table.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 U.S. Stocks to Buy on Coronavirus Weakness * 7 Strong Value Stocks to Buy for 2020 * Are All the Top 10 Warren Buffett Stocks Worth a Buy? The post 5 Top Stock Trades for Wednesday: AMZN, UAA, FB, FDX, HAS appeared first on InvestorPlace.
Once believed rare among city contractors, city officials have found that wage theft is a larger problem than previously believed.
UBS analyst Tom Wadewitz lifted FedEx to a buy rating and raised his share-price target to $187, citing improvement in the company's business-to-consumer cost structure in its express operation.
No jobs are being cut, but more than 400 employees could be impacted as a FedEx facility in South Sacramento downsizes this spring.
FedEx (FDX) aims to optimize residential deliveries and reduce costs of such deliveries by allowing some of its Express packages to be delivered via the Ground unit.